The ringgit is expected to remain weak in cautious trading next week amid concern over Europe's debt crisis.
A dealer said the ringgit might trade around 3.06-3.08 levels per US dollar with the eurozone crisis dominating sentiment. "Emerging Asian currencies have slid sharply this week due to renewed concern over the eurozone's sovereign debt crisis," he said. This week, the ringgit closed on Thursday (as Friday was a Malaysia Day holiday) at 3.0915/0940 per US dollar compared with 2.9985/0025 the previous week. It eased against the Singapore dollar to 2.4833/4873 from 2.4538/4590 and fell against the yen to 4.0285/0344 from 3.8640/8712. The local unit also decreased against the British pound to 4.8801/8864 from 4.7904/7980 and lost against the euro to 4.2566/2614 from 4.1535/1594. -- Bernama
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cmlooi
US dollar is gaining strength.
2011-09-17 20:29